Target Reports Executive Leadership Transition and Compensation
Summary
Target announced the compensation for Michael J. Fiddelke, appointed as the next Chief Executive Officer and a Board member, effective February 1, 2026. His compensation was set on January 31, 2026. Concurrently, Brian C. Cornell transitioned from CEO to Executive Chair of the Board, effective February 1, 2026, with his compensation details finalized on February 2, 2026. - Mr. Fiddelke's annual base salary is $1.30 million, with target stock-based awards of $12.1 million. - Mr. Cornell's annual base salary is $1.12 million, with a restricted stock unit award of $6.0 million. - Both are eligible for annual cash incentives with a target opportunity of 200% of base salary.
Why It Matters
This update provides crucial details on the compensation packages for Target's incoming CEO, Michael J. Fiddelke, and transitioning Executive Chair, Brian C. Cornell. Investors should care as these arrangements outline the financial incentives and costs associated with the company's top leadership, impacting governance and long-term strategic direction.
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Key Quote
“Fiddelke was appointed as Target's next Chief Executive Officer and a member of the Board, effective February 1, 2026.”
— From Item 5.02
Filing Details
Reported Items
Additional Information
- CIK Number
- 0000027419
- Filing Date
- Thursday, February 5, 2026
- Filing Time
- 12:00 AM UTC
- Form Type
- 8-K
- Materiality Level
- high
- Sentiment
- positive